Wall Street Zen Upgrades Quanterix (NASDAQ:QTRX) to “Hold”

by · The Markets Daily

Quanterix (NASDAQ:QTRX – Get Free Report) was upgraded by investment analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

Several other research analysts have also recently weighed in on QTRX. Canaccord Genuity Group dropped their price objective on shares of Quanterix from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Monday, August 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of Quanterix in a research note on Friday, August 7th. Finally, TD Cowen dropped their target price on Quanterix from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Tuesday, August 11th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target of $3.00.

Read Our Latest Stock Analysis on Quanterix

Quanterix Stock Performance

Shares of NASDAQ:QTRX opened at $3.07 on Friday. The firm has a market capitalization of $145.18 million, a PE ratio of -1.17 and a beta of 1.04. Quanterix has a 1-year low of $2.15 and a 1-year high of $8.77. The business’s 50 day moving average is $3.16 and its 200-day moving average is $3.46.

Quanterix (NASDAQ:QTRX – Get Free Report) last posted its earnings results on Monday, August 10th. The company reported ($1.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.41) by ($0.63). The business had revenue of $32.91 million during the quarter, compared to the consensus estimate of $37.48 million. Quanterix had a negative net margin of 80.25% and a negative return on equity of 26.09%.

Institutional Investors Weigh In On Quanterix

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. acquired a new stake in shares of Quanterix in the 2nd quarter valued at approximately $15,705,000. William Blair Investment Management LLC increased its holdings in Quanterix by 55.6% during the fourth quarter. William Blair Investment Management LLC now owns 2,046,449 shares of the company’s stock worth $13,015,000 after buying an additional 731,169 shares during the last quarter. Invenomic Capital Management LP increased its holdings in Quanterix by 8.1% during the fourth quarter. Invenomic Capital Management LP now owns 1,505,208 shares of the company’s stock worth $9,573,000 after buying an additional 112,203 shares during the last quarter. Levin Capital Strategies L.P. acquired a new position in Quanterix during the first quarter worth $5,153,000. Finally, Empire Financial Management Company LLC raised its position in Quanterix by 19.1% during the first quarter. Empire Financial Management Company LLC now owns 736,068 shares of the company’s stock worth $2,591,000 after acquiring an additional 118,238 shares in the last quarter. 86.48% of the stock is owned by institutional investors.

Quanterix Company Profile

(Get Free Report)

Quanterix Corporation (NASDAQ:QTRX) is a life sciences company that develops ultra-sensitive digital immunoassay technologies for detecting and measuring biomarkers in blood and other biological samples. Its platform is designed to identify proteins and other biomarkers at concentrations significantly below the capabilities of many conventional immunoassay methods, supporting research into disease biology, diagnosis, treatment development and monitoring.

The company’s primary technology, Simoa, is used in its laboratory instruments, assay kits, consumables and software products.

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